Strategy Aims to Raise Another $500M for Bitcoin Buys With New Preferred Series

Strategy (MSTR) has launched its latest fundraising vehicle for additional bitcoin (BTC) purchases. The STRC Preferred Stock ( nicknamed “stretch” by the company ) will have an initial dividend rate of 9%. The company is looking to sell 5 million shares at $100 each for a total of $500 million. STRC will join the company’s other preferred series of shares — STRK, STRF and STRD — not to mention the common stock at-the-market program, through which MSTR raised $736 million just last week for more bitcoin acquisitions. Strategy, of course, is gorilla among corporate bitcoin holders with more than 600,000 coins worth about $72 billion. MSTR is little-changed in after hours trade.

Source: CoinDesk